Iran to demand emergency OPEC meeting if prices keep falling

An Iranian Oil Ministry official says Iran will ask OPEC to call an emergency meeting to discuss oil prices if they slump below USD 100 a barrel. “To that effect, Iran’s oil minister [Rostam Qasemi] will have telephone conservation with OPEC president about an extraordinary meeting,” the official, who was not named, said Monday.
On Sunday, Qasemi said Iran wanted oil prices to stay above USD 100 per barrel, noting that “an oil price below USD 100 is not reasonable for anyone.” Crude dropped to near USD 101 on Friday and ahead of the next meeting of the Organization of the Petroleum Exporting Countries on May 31………………………………………..Full Article: Source